The rally in altcoins is likely to continue if Bitcoin holds at its current levels but a breakdown below $9,000 could lead to aggressive profit booking by altcoin traders. At various points throughout 2020 Bitcoin (BTC) was correlated with gold. During these phases BTC was acting as an uncorrelated asset, but now it has become […]
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Bitcoin and most altcoins are witnessing selling at every minor rally, increasing the possibility of a dip in the short-term. Bridgewater CIO Ray Dalio said that central banks have moved away from their traditional role and have become owners of assets since the 2008 Financial crisis. They now act as “market makers.” Therefore, the “capital […]
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The price of Bitcoin briefly dropped below $9,000. The weakening of a key support level may lead to a bigger drop. The price of Bitcoin (BTC) dropped below $9,000 in a rapid pullback, falling by 5% in 48 hours. It marked the seventh drop to the $8,000s for the top-ranked cryptocurrency by market capitalization within […]
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As Bitcoin price consolidates and searches for support, large cap altcoins are setting up for a resumption of their uptrends. Blockstream CEO Adam Back recently said that institutional money is not needed to propel Bitcoin (BTC) to $300,000 within five years. This is partially because the current financial situation could drive retail traders to look […]
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Tension between China and the U.S. is increasing and if the current trade deal is scrapped Bitcoin could be a major beneficiary. The tensions between the U.S. and China have escalated once again. This is bad news for the global economy which is currently witnessing one of the worst crises since the Great Recession. If […]
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Many altcoins are showing significant strength as they approach their 200-day moving averages, this suggests that the sentiment in the sector remains bullish. Institutional demand for Bitcoin remains high, even as the price turned down after the block reward halving. Some in the space believe that if institutional and retail demand picks up, there will […]
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Most major cryptocurrencies have seen strong buying at lower levels, which shows traders remain interested in buying the dips. Although Bitcoin (BTC) has weathered the current crisis and come out on top, Goldman Sachs only focused on the March 12 fall in a presentation to its clients. Using liberally interpreted information, Goldman appears to be […]
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The price of Bitcoin dropped to $8,600 and is now fluctuating just above $9,000, showing high volatility as several factors make its next step unclear. The price of Bitcoin (BTC) dropped to as low as $8,600 on May 25 as retail investors on Coinbase led an abrupt short-term downtrend. The price has since fluctuated between […]
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Bitcoin price is struggling to reclaim $9,000, leading investor sentiment to turn bearish on BTC’s short-term price action. Bitcoin (BTC) price had a relatively muted day as the digital asset traded between $8,700-$8,885. Currently, the price remains below the ascending channel trendline and the daily candle closed as a neutral doji, showing bulls and bears […]
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Several major cryptocurrencies have turned down from their resistance levels, hinting that further downside could occur in the short-term. Bitcoin (BTC) has neither run away nor plunged following its halving, which suggests that history might be repeating itself. After the first halving, the top-ranked cryptocurrency on CoinMarketCap moved up only by 7% after a month. […]
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